If you exceed the mileage allowance on your lease vehicle, any mileage over the agreed amount is charged at the agreed excess mileage rate per mile.
Exceeding mileage on a lease contract example
If the excess stated in your agreement is 9p per mile (ppm), and you exceeded your mileage allowance by 1,000 miles, you would receive an additional invoice charge for £90 at the end of your lease.
All Leasing Quotes provided by Applied Leasing Ltd show all details on your contract before committing to anything:
Business Contract Hire Example:
Finance Term: 36 months
Payment Profile: £1,462.59 in advance plus 35 monthly rentals
Initial Rental (Exc VAT): £1,462.59
Monthly Rental (Exc VAT): £162.51
Excess Mileage Charge (Exc VAT): 9ppm
Note: The example provided above relates to a vehicle returned at the end of the lease period.
During your lease period there may be changes to your circumstances, such as moving home and changing jobs, which may affect the amount of daily and weekly mileage that you may do, if this is the case it is a good idea to contact the finance company to see if a mileage extension is available to you.
It is your responsibility to monitor your own mileage, it will not be regularly checked by us or your Finance Company.